Universitas Gadjah Mada
Faculty of Economics and Business

The Master in Management Study Program (MM), Faculty of Economics and Business UGM Jakarta Campus, in its continuous effort to provide valuable learning experiences, hosted another significant event-the Executive Series. This event, held on June 31, 2023, at the MM Jakarta Campus, was a platform for in-depth discussions on the Transformation of Sanur Special Economic Zone theme, a topic of great relevance and importance in the current business landscape.

The keynote speaker at the Executive Series was the esteemed Chief Executive Officer of PT. Hotel Indonesia Natour, Dr. Christine Hutabarat, S.S., M.M. Hotel Indonesia Natour, Dr. Christine Hutabarat, S.S., M.M. Her insightful presentation was a testament to her leadership and experience in the tourism industry. She shared practical insights from her role in leading Hotel Indonesia Natour, a subsidiary of PT. Aviasi Pariwisata Indonesia (InJourney), appointed by the government as the developer and operator of the Sanur Special Economic Zone (SEZ). Her talk was a source of inspiration for the students, highlighting the importance of a holistic, inclusive, and collaborative approach in the business world.

Christine explained that a holistic approach involves viewing business feasibility comprehensively. An inclusive approach encompasses all value chain components in developing tourism solutions. Meanwhile, a collaborative approach involves many stakeholders, not just the leading company.

"In the future, we will have similar programs in other government-determined destinations, namely in the five super-priority destinations at Borobudur Temple, Lake Toba, Mandalika, Likupang, and Labuan Bajo. We will work to generate as much traffic as possible to these destinations," she said.

Christine stated that Bali is an area that will continue to develop in the future. Although it was a province affected by the COVID-19 pandemic, Bali still has excellent potential for development. Therefore, as the operator of Sanur SEZ, they are undertaking several transformations by changing the business model. In 2023-2024, the focus is on returning to the core business of hotel management, aligning corporate functions, and divesting unused assets. Then, in 2025-2026, the focus is on strengthening corporate functions and business operations. Next, in 2027, they will identify and develop new opportunities.

Christine mentioned that they are also updating the business model for Bali as a world-class health and tourism destination with integrated facilities in Sanur SEZ. "Bali is a desired destination for tourists from various countries and has the potential to become the leading medical tourism destination in Southeast Asia. Meanwhile, the Sanur area is a popular and strategic region in Bali with great potential to attract international and domestic tourists," she explained.

Furthermore, the FEB UGM alumnus explained the multiplier effect of Sanur SEZ. In the construction phase, the SEZ scenario will increase income and consumption from project work by 2.4 times higher than without the SEZ scenario, which is only 1.3 times. Then, in the operational phase, with the SEZ scenario, it will increase income by 2.2 times compared to without the SEZ scenario, which is 1.6 times.

The SEZ scenario will also increase state tax revenue by 20.3 trillion. Meanwhile, without the SEZ scenario, tax revenue is only 1 trillion. The SEZ scenario also impacts the absorption of new workers. If the SEZ scenario is applied, it will absorb up to 18,375 employees; without it, it will only absorb 847 employees. Meanwhile, the Head of the MM FEB Jakarta Campus Program, Prof. Dr. Tandelilin Eduardus, M.B.A., stated that this Executive Series event is a tangible form of MM FEB UGM's commitment to providing practical insights and knowledge to students to prepare them for the challenges of the working world. He hopes that through this event, students can enrich their in-depth understanding of transformation strategies in the tourism and hospitality industry and understand the increasingly diverse dynamics and challenges.

Reportage: Kurnia Ekaptiningrum 

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